Energy Transfer LP Unit (NYSE:ET) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. lowered its stake in Energy Transfer LP Unit (NYSE:ET) by 48.7% during the third quarter, Holdings Channel.com reports. The firm owned 2,438 shares of the pipeline company’s stock after selling 2,310 shares during the quarter. Adirondack Trust Co.’s holdings in Energy Transfer LP Unit were worth $32,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Westside Investment Management Inc. acquired a new stake in Energy Transfer LP Unit in the 2nd quarter valued at about $1,981,000. Frontier Wealth Management LLC increased its holdings in shares of Energy Transfer LP Unit by 4.5% in the 2nd quarter. Frontier Wealth Management LLC now owns 19,209 shares of the pipeline company’s stock valued at $270,000 after acquiring an additional 825 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Energy Transfer LP Unit by 0.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 261,315 shares of the pipeline company’s stock valued at $3,679,000 after acquiring an additional 886 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Energy Transfer LP Unit by 3.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 29,502 shares of the pipeline company’s stock valued at $415,000 after acquiring an additional 960 shares during the last quarter. Finally, GAM Holding AG increased its holdings in shares of Energy Transfer LP Unit by 8.8% in the 2nd quarter. GAM Holding AG now owns 11,904 shares of the pipeline company’s stock valued at $168,000 after acquiring an additional 960 shares during the last quarter. 55.33% of the stock is currently owned by institutional investors.

ET has been the topic of a number of recent analyst reports. ValuEngine upgraded Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Bank of America increased their price objective on Energy Transfer LP Unit from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Piper Jaffray Companies initiated coverage on Energy Transfer LP Unit in a report on Wednesday, July 17th. They issued an “overweight” rating and a $22.00 price objective on the stock. Wells Fargo & Co increased their price objective on Energy Transfer LP Unit from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Raymond James reiterated an “average” rating and issued a $19.00 price objective on shares of Energy Transfer LP Unit in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Energy Transfer LP Unit presently has a consensus rating of “Buy” and a consensus target price of $19.60.

Shares of ET traded down $0.03 during mid-day trading on Wednesday, reaching $12.33. The company’s stock had a trading volume of 9,127,460 shares, compared to its average volume of 10,831,592. The company’s 50 day moving average is $13.37 and its 200 day moving average is $14.35. The stock has a market cap of $33.34 billion, a PE ratio of 10.72 and a beta of 1.52. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 0.83. Energy Transfer LP Unit has a 12-month low of $11.68 and a 12-month high of $17.45.

Energy Transfer LP Unit (NYSE:ET) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $13.88 billion for the quarter, compared to analysts’ expectations of $14.49 billion. Energy Transfer LP Unit had a return on equity of 9.10% and a net margin of 4.99%. The business’s revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Energy Transfer LP Unit will post 1.41 EPS for the current fiscal year.

Energy Transfer LP Unit Profile

Energy Transfer LP provides energy-related services in the United States and China. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 12,200 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.

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Institutional Ownership by Quarter for Energy Transfer LP Unit (NYSE:ET)

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